The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.

... often analysis seems to be based on the assumption that future economic output is almost entirely determined by inexorable economic forces independently of government policy so that devoting more resources to one use inevitably detracts from availability for another.

There is no reason inherent in the real resources available to us why we cannot move rapidly within the next two or three years to a state of genuine full employment.

The nominal budget is a poor indicator of the impact of government outlays and revenues.

The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.

There is no real justification for a requirement that a budget of any sort should be balanced, except as a rallying point for those who seek to hamstring government.

To stick to the present situation would be something like a man who was observed in Times Square looking earnestly along the pavement. He was asked what he was looking for. He said "I lost my watch."